July Copper closed down 0.10 at 410.75. This was 6.25 up from the low and 0.80 off the high.
Technical Outlook
COMEX COPPER (JUL) 06/10/2011: Momentum studies trending lower at mid-range could accelerate a price break if support levels are broken.
The market's short-term trend is negative as the close remains below the 9-day moving average. With the close higher than the pivot swing number, the market is in a slightly bullish posture.
The next downside target is now at 402.09. The next area of resistance is around 414.37 and 416.78, while 1st support hits today at 407.03 and below there at 402.09.
